Security News
The U.S. Treasury Department's Office of Foreign Assets Control has sanctioned three cryptocurrency exchanges for working with OFAC-designated Russian dark web markets and banks. The first, Bitpapa IC FZC LLC, is a peer-to-peer virtual currency exchange that caters to Russian nationals and has facilitated millions of dollars in transactions with two OFAC-designated Russian entities, Hydra Market and Garantex.
The Phishing as a Service platform 'LabHost' has been helping cybercriminals target North American banks, particularly financial institutes in Canada, causing a notable increase in activity. LabHost isn't a new provider, but its popularity surged after introducing custom phishing kits for Canadian banks in the first half of 2023.
"Leading experts forecast that cyber security risks associated with quantum will materialize in the coming decade," reasoned [PDF] the MAS. Cryptographically relevant quantum computers "Would break commonly used asymmetric cryptography, while symmetric cryptography could require larger key sizes to remain secure," it added. The monetary authority warned that the security of financial transactions and sensitive data financial institutions process could be at risk, thanks to quantum computers that can "Break some of the commonly used encryption and digital signature algorithms."
Ukraine's cyber police arrested a 31-year-old for running a cybercrime operation that gained access to bank accounts of American and Canadian users and sold it on the dark web. "To distribute his virus, the hacker created and administered several websites, offering users to download various software for free," reads the police's announcement.
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security...
Indian tech services giant Infosys has been named as the source of a data leak suffered by the Bank of America. Infosys disclosed the breach in a November 3, 2023, filing [PDF] that revealed its US subsidiary Infosys McCamish Systems LLC "Has become aware of a cyber security incident resulting in non-availability of certain applications and systems in IMS.".
Bank of America is warning customers of a data breach exposing their personal information after one of its service providers was hacked last year.While Bank of America has yet to disclose how many customers were impacted by the data breach, Infosys McCamish Systems, the vendor that had its systems compromised, revealed in a recent filing with the Attorney General of Maine that 57,028 had their data exposed in the incident.
Sixty-one banking institutions, all of them originating from Brazil, are the target of a new banking trojan called Coyote. "This malware utilizes the Squirrel installer for distribution,...
Five $60,000 bounties - the second-highest monetary awards behind Synacktiv's $100k Tesla hacks - were awarded for attacks on EV chargers manufactured by Emporia, ChargePoint, Ubiquiti, Phoenix and JuiceBox. Three attacks against Automotive Grade Linux were also attempted, with only one succeeding.
The largest bank in the United States repels 45 billion - yes, with a B - cyberattack attempts per day, one of its leaders claimed at the World Economic Forum in Davos.Mary Callahan Erdoes, JPMorgan Chase's CEO in charge of asset and wealth management, revealed the figure during a discussion of the future of banking at Davos yesterday, adding that the number is twice what the institution faced a year prior.